CSBBANK trade ideas
CSB Bank Consolidation going on at current levels and HA bullish reversal candle has formed today on the daily charts. Follow through movement on higher volumes will help breakout of this zone. Resistance @ 266.
CSB Bank --- Long CallHigh volume breakout at strong resisitance zone. Stock has background make further move to higher. Moving average and Fibonacci indicates postivity.
CSB Bank - Buying OpportunityCSB Bank has been testing this support level multiple times.
Wait for the stock to decide the the direction (Either breach the support level or bounce back from this support)
STOP LOSS @ 190/-
Disclaimer: This is just a view. Please do your own research and trade at your own risk.
Fibonacci Retracement // CSB Bank / Daily Swing Call NSE:CSBBANK
Call for Tuesday 25th August 2020 // This is a swing trade call and not an intra-day trade //
CMP / LTP: 213.4
IDEAL BUYING RANGE*: 203-220
TARGET: 256+ (20% Around)
STOP LOSS: 192 (10-12 % Max)
DURATION: In 15-20 Trading Sessions Target should be achieved
Notes:
- *IDEAL BUYING RANGE: This is the pricing range if the stock corrects after my buy call. If u don't want an aggressive trade, you can wait for a
"possible" (not guaranteed) correction. One can also do a staggered buying (50% on LTP and balance 50% if the stock goes down further 2-3-
5%range). This way the Risk Reward can be improved and profit can be maximized.
- This is a swing trade call and not an intra-day trade
- Please follow the Stop Loss strictly (Tolerance of 1% +/- in SL). If you are manually monitoring SL follow them on daily closing basis.
- Recommended Profit Booking / Exit is on +15% on CMP & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades, but if SL / Target are not triggered and you still wish to hold the trade, this can be
done as long as SL is followed or trailed.
- All my reco trades are with Minimum Risk to Reward (RR) 1: 1.5 (Can go upto 2-3 range depending on the market conditions)
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks.
Disclosure: I may or may not have a position in this trade.
What happens Next ? R= 200 , S=187 CCI Positive. WHat Happens Next ? I am hopefulCSB can breakthrough 200 as it has taken good higher supports and absorbed a lot of weak sellers.
